Stock below Rs 50: Shares of this company hit 10 per cent upper circuit today, find out why

The company is the largest Rupay card issuer among prepaid payment instruments with 63 lakh cards issued at end of Q3FY22

On Monday, shares of Dhani Services rallied 9.94 per cent from the previous closing level of Rs 34.70 to touch the upper circuit level of Rs 38.15. The scrip witnessed a spurt in volume by more than 1.14 times.  

On December 23, the company stated in its exchange filing, that it has acquired a 100 per cent stake in Juventus Estate Limited and Mabon Properties Limited, which collectively own a land parcel admeasuring close to 35 acres in Gurugram, Haryana. The acquisition of a 100 per cent stake in the target companies was at their enterprise value, aggregating to Rs 240 crore.   

The company believes this acquisition will provide new business opportunities for the company to venture into real estate business, which will provide a higher value proposition to all its stakeholders.  

Dhani Services Ltd is primarily engaged in providing technology-enabled subscription-based healthcare and transaction finance services through its 'Dhani' App. It is also engaged in diverse business activities including asset reconstruction, stock broking, etc. The company issues Dhani Rupay Card to its’ users which offers payment solutions, with or without credit to its customers.  

The company is the largest Rupay card issuer among prepaid payment instruments with 63 lakh cards issued at end of Q3FY22. Keep a close eye on this trending stock.